KeyCorp (NYSE:KEY) Downgraded by UBS Group

UBS Group downgraded shares of KeyCorp (NYSE:KEYFree Report) from a buy rating to a neutral rating in a research note published on Monday morning, MarketBeat.com reports. They currently have $15.00 price target on the financial services provider’s stock, down from their previous price target of $16.00.

A number of other research firms have also recently weighed in on KEY. Evercore ISI lowered their target price on shares of KeyCorp from $17.50 to $16.50 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods upped their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an outperform rating in a research note on Friday, April 5th. Royal Bank of Canada reissued an outperform rating and issued a $41.00 target price on shares of KeyCorp in a research note on Tuesday, June 25th. Wells Fargo & Company upped their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an overweight rating in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of KeyCorp from $17.50 to $16.50 and set a neutral rating on the stock in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $17.24.

Read Our Latest Stock Analysis on KEY

KeyCorp Stock Performance

NYSE:KEY opened at $14.68 on Monday. The firm’s 50-day moving average is $14.31 and its 200-day moving average is $14.46. KeyCorp has a 52-week low of $9.50 and a 52-week high of $15.86. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.71 and a beta of 1.26.

KeyCorp (NYSE:KEYGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities research analysts anticipate that KeyCorp will post 1.13 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 5.59%. KeyCorp’s dividend payout ratio (DPR) is currently 103.80%.

Institutional Trading of KeyCorp

Several hedge funds have recently modified their holdings of KEY. Schroder Investment Management Group grew its stake in shares of KeyCorp by 1.0% during the third quarter. Schroder Investment Management Group now owns 1,455,367 shares of the financial services provider’s stock valued at $15,660,000 after purchasing an additional 14,650 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of KeyCorp by 305.8% during the third quarter. Harbour Investments Inc. now owns 21,176 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 15,958 shares during the last quarter. Comerica Bank grew its stake in shares of KeyCorp by 1,216,358.8% during the third quarter. Comerica Bank now owns 413,596 shares of the financial services provider’s stock valued at $4,450,000 after purchasing an additional 413,562 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of KeyCorp by 6.3% during the third quarter. Public Sector Pension Investment Board now owns 216,309 shares of the financial services provider’s stock valued at $2,327,000 after purchasing an additional 12,819 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of KeyCorp by 14.0% during the third quarter. American Century Companies Inc. now owns 640,787 shares of the financial services provider’s stock valued at $6,895,000 after purchasing an additional 78,773 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

About KeyCorp

(Get Free Report)

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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Analyst Recommendations for KeyCorp (NYSE:KEY)

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